Demand for food delivery services has fallen sharply as pandemic-related business restrictions loosen and many consumers resume dining out. In its statement Wednesday, Just Eat said it “continues to actively explore the partial or full sale of Grubhub.” Shares for Just Eat, which trade in Amsterdam, surged some 13% Wednesday.Īmazon’s latest foray into the food delivery sector comes as the industry faces new headwinds and a harsher fundraising environment. Shackart also said Amazon could “look to acquire the Grubhub operations.”
“Today’s announcement looks like a potential partnership approach to establish itself back in the space.” “Amazon has tried to build its own third-party food marketplace for years and did not have much success,” Ralph Schackart, an analyst with William Blair, wrote in a research note Wednesday. Amazon announced in 2019 that it was shuttering its short-lived restaurant delivery service in the US that delivered food to Prime members. It also helps bolster its meal delivery efforts. (GRUB)’s Netherlands-based parent company, Just Eat .įor Amazon, the tie-up has the potential to broaden the appeal of its Prime service, which now costs $139 annually. (GRUB), with the possibility to acquire up to 15% if certain business performance conditions are met, according to an announcement from Grubhub Amazon has the option to take a 2% stake in Grubhub
Brian van der Brug/Los Angeles Times/Getty ImagesĪt the same time, Amazon could become a stakeholder in Grubhub
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